How To Evaluate Whole Life Insurance?
1805 POINTSview profileSamuel SmithEnrolled Agent-licensed to practice before the IRS, Samuel N Smith, EA, South CarolinaI would say first of all consider if "whole life" is the type of coverage that best meets your objectives. You understand there are "Universal Life, Flexible Universal Life, and Variable Life Insurance policies. The younger you are the more you need to slide toward Variable Life because you can select what "portfolio" you wish to use to fund your policy. The more aggressive you select the more "premium" you want to fund the policy. Then you want to consider the financial strength of the company-how long in business, payment of claim history, their rate of return history, and their debt ratios. Please remember it is the COMPANY that is either going to be around to service your policy and not that little freckled face smiling insurance agent. While the agent can be of assistance as long as they are committed to meeting your needs the viablity of yor policy is strictly the financial strength of the companyAnswered on November 26, 2013flag this answer
4249 POINTSview profileGary LanePresident, Lane Independent Agency, Southern CaliforniaEvaluating an insurance company includes looking at their financial history, how swiftly they pay their claims, their financial ratings and reputation, years in business. New York Life is America's oldest and largest life insurance company, with the highest financial ratings from all bureaus and the quickest pay history. Check our reputation. We are the company you keep.Answered on November 26, 2013flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
.JPG){kind=avatar}
